Controlled Thermal Resources says $205 million of convertible debt converts to equity in Plum IV deal closing
PLMK•Controlled Thermal Resources expects about $205 million of existing convertible debt and roughly $40 million of additional convertible debt to convert to equity at closing. Convertible notes are expected to total about $245 million at closing, ahead of a proposed Nasdaq listing.
1. Debt conversion plans
Controlled Thermal Resources expects about $205 million of existing convertible debt to convert to equity when its deal backed by Plum Acquisition Corp. IV closes. Roughly $40 million of additional convertible debt is expected to convert into a new planned PIPE tied to the deal, bringing convertible notes to about $245 million at closing.
